Fidelity International has launched an ESG equity fund in response to demand for socially-responsible products from investors.
Matt Jones and Hiten Savani will manage the fund.
The FIRST ESG All Country World fund launches with $80m and will screen companies that derive a significant proportion of revenues from alcohol, weapons, firearms, tobacco, gambling and adult entertainment.
It aims to deliver a lower weighted average carbon intensity than the market and a higher ESG score.
Head of UK wholesale John Clougherty says: “Many of our clients are looking for innovative and robust approaches to enable them to implement ESG portfolios while continuing to achieve their risk adjusted return objectives. We have designed the Fidelity FIRST ESG approach specifically to allow clients to achieve these two goals.”